(ICE) -> LIQ-ETH LP Tokens
LIQUID’s new platform focuses heavily on positive and appreciative tokenomics. In the last few months alone, thousands of new tokens have launched in what can only be described as massively inflated minting. This isn’t the only issue at hand though. Any amount of tokens can retain value if properly backed. LIQUID wants to bring value back to government tokens. Not derived synthetically by early stage whale staking but by the entire community of Liquid participants.
Any and all participants throughout the initial government token offering will have the ability at any point to withdrawal their deposit directly from the deposit contract. Although future iterations may choose to intake any ERC-20 token as collateral, LIQUID will be launching pegged to ETH 1:1. What this allows the platform to accomplish is two fold:
- Pegging the ICE deposit tokens to ETH will induce a price floor. At any point throughout, ICE can be redeposited to claim the corresponding deposited ETH.
- When ICE becomes listed for trading, the market as a whole can speculate on the ICE token price. This will cause the price to float above its peg to ETH.
Each week during the offering, a new batch of ICE tokens will release and be available for purchase through the contract. At the end of the offering, all ICE tokens will become LIQ-ETH LP tokens. Half of all the ETH taken in will be burned permanently to mint the 50% of LIQ tokens. The Initial LIQ-ETH pool will launch and immediately start generating fees based on swaps within.
Due to the pool launching with a 1:1 ETH peg, the moment the pool becomes active, all LIQ tokens within the LIQ-ETH LP pairs will be undervalued against the rest of the market. Market speculators and traders will have the opportunity to purchase LPs from anyone wishing to sell at a profit. Once the LIQ within begins changing hands, the pool will generate fees and the governing community will take over full control of the LIQUID platform.
